Quantifying the Impact of Digital Transformation on Economic Growth: A Longitudinal Analysis

Abstract

This study examined how digital transformation and economic development interact in a longitudinal analysis that went from 2016 to 2020. A persistent commitment to digitalization was shown by the statistics, which showed a constant growth in digital transformation measures including investment, adoption rates, talent development, and preparedness. Indicators of economic development, including GDP growth, employment, productivity, and corporate investments, all showed positive trends at the same time. The percentages of the calculated digital transformation impact indicated an increasing effect over time. An examination conducted over a period of five years highlighted the overall effect of digital transformation and emphasized its ongoing contribution to economic development. Policymakers, companies, and academics should take note of this research's important implications, which underscore the pivotal role that digital transformation plays in determining economic advancement in the digital era.